WALL STREET: Faith in Mutual Funds

How did the mutual funds fare in the stock market's sharp first-quarter decline? Last week, from Mutual Fund Expert Arthur Weisenberger & Co. came the answer. For the first three months of 1960, the average decline in per share net asset value of mutual funds with unrestricted investment policies was 6%. Funds that specialize in growth stocks fared a little better, declining an average of 5%, while funds that balance their portfolios among common and preferred stocks and bonds were off only 2%. Thus by the Weisenberger tabulation, which includes dividends and...

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